On November 15, 2024, gold closed at Rs 73,281, according to MCX data. This marks a higher rise in gold’s spot market value from the start of the year.
Year-over-year, gold prices have climbed 22.08 percent, as analysed by Moneycontrol.
However, the current price remains below the Rs 79,362 peak reached on October 30.
The second quarter of 2024 witnessed a 6 percent decline in gold demand, due to reduced appetite from the jewellery sector.
For gold futures expiring on December 5, the price was Rs 73,946 per 10 grams on November 15, which is -0.28 percent lower than the previous day’s price.
There were city-wise variations in gold price on November 15
Gold price in Mumbai
24-carat gold in Mumbai on November 15 cost Rs 73,87, and the cost of gold for 22-carat was Rs 70,350. In the financial capital, 24-carat gold was 0.15 percent higher, compared with the previous day.
Gold price in Delhi
In Delhi, Rs 73,970 was the price for 24 carat gold and Rs 70,450 was the price of 22 carat of gold. The price was 0.14 percent higher compared with the previous day.
Gold price in Chennai
In Chennai, 24-carat gold traded 0.14 percent higher at Rs 72,920. And, 22-carat gold was priced at Rs 69,450.
Gold price in Bengaluru
In Bengaluru, 22-carat gold was Rs 70,600. Price was 0.14 percent higher for 24-carat gold at Rs 74130.00.
You can access more information on city-wise prices on our gold page.
Outlook
Central banks' gold buying was higher in the previous quarter, and so was technology use, according to the World Gold Council.
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